The Evolution of Saudi Arabia's Startup Ecosystem 2010-2022

Kingdom of Saudi Arabia

(*) This is not a ranking. Different investor models cannot be compared, and each investor business model has its place and its benefits for startup founders. The list simply has been compiled for (Saudi) startup founders to get familiar with - in case you might approach them in the future, to assess their impact on your cap table.

Top 8 Most Active Investors in Saudi-Born Startups

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Saudi Arabia&rsquo;s ambitions to develop tourism to a point that it contributes 10-15% of the country&rsquo;s GDP by 2030 is no small feat. In 2020, the country&rsquo;s tourism sector contributed roughly 3%. It would mean that in less than 10 years time, the Kingdom expects to surpass the annual tourism revenues that the world&rsquo;s #1 tourism hotspot, the United States, acquired in 2018 (over $200 billion) at pre-covid levels. It&rsquo;s no wonder the Saudi Government is investing over a trillion dollars into the development of its tourism sector.

Tourism Pays: This Is How Much Each Country Benefitted from International Tourism Receipts in 2018

This Is How Much Each Country Benefitted from International Tourism Receipts

Considering that 4 out of the top 10 funded startups in Saudi in 2022 were fintechs, and #1 Tamara and #2 stc pay each raised more than US$ 200 million, it comes as little surprise that fintech emerges as the most funded sector in the Kingdom. This is a trend seen around the globe, as fintech is considered the backbone infrastructure from which many other tech industries can commercialize and receive digital payments - from ecommerce to restaurant tech and delivery aggregators - fintech is always involved.

Who Are The Most Active Investors in Saudi-Born Startups?

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